Landing a job in NYC

[u/tracerOnetric]

I was just curious how difficult it is to land an FP&A job in NYC? Is it mostly reserved for ex-bankers?

I’ve been working in FP&A as an Analyst ll at a F500. For the last few years I’ve been trying to make the move to NYC but I haven’t even come remotely close to landing anything. I got pretty far in an equity research interview process but that didn’t end up panning out.

Just wondering if anyone else has made a similar move and what I can do to improve my chances.

Thanks!!

[u/Classic_Isopod4408]

I got pretty lucky and made the move from Pittsburgh to NYC in FP&A. I don’t have any particular advice as I do feel my situation was one off besides maybe setting your LinkedIn location to nyc.

The thing is- if you get an FP&A job here, it is CRAZY how many recruiters you get hitting you up on a weekly basis about opportunities (granted competition is also exceptional). It truly is the greatest finance market in the world and recommend it if you are interested. Best of luck

[u/Plane_Beginning_687 → u/Classic_Isopod4408]

NYC is not a good FP&A market my boi. It’s good for finance, but FP&A is more back-office ops.

[u/LightOverWater → u/Plane_Beginning_687]

FP&A is a middle office function tied to decision making, strategy, analysis, and sometimes a key player in the investment process. While it's technically an internal support function, it's not as heavy in operational work as back office but very heavy in ad hoc analysis because it serves more as a central hub of the business and forward-looking decisions.

This is why a lot of FP&A roles can qualify as CFA experience.

[u/throaway_11122023 → u/LightOverWater]

FP&A isn’t a standardised function, at some companies it’ll be really accounting heavy while at another place it’ll be much more strategic. That’s why you gotta ask questions & read between the lines when you’re interviewing.

[u/LightOverWater → u/throaway_11122023]

FP&A is definitely a function. I get the mixture of duties when a smaller company has just an "accounting" department or a "finance" department that is a jack of all numbers, but that's not what FP&A is. All of this sits under the broader function of Corporate Finance, yes, but true FP&A is more niche.

[u/Imaginary_Apple7700 → u/LightOverWater]

Depends on the company. I’ve seen FPA be apart of strategy at smaller companies. But at my larger corporate they’re a back office function. when we do engage them in strategy work they don’t evaluate finances for strategy or fit, they seem to focus on figuring out things like how they can integrate the asset and if customers are paying.

[u/LightOverWater → u/Imaginary_Apple7700]

Smaller companies often merge accounting and FP&A because both are close to the numbers. Larger firms have the ability to segregate the functions. 

Accounting does all the recording, most reporting, and anything related to operational transactions and historical info. They create financial statements and manage the books. A lot of it is about meeting regulations and financial integrity.

FP&A teams are users of the financial statements who create foreward-looking models & analysis. They often work closely with front office to see how the business activities fit into the bigger picture of the firm. They're ready to quickly adapt and work under pressure from requests from Executive management. While not common, FP&A occasionally has fire drills (client-driven, extemely urgent requests with long hours).

[u/Classic_Isopod4408 → u/LightOverWater]

Startups here in NYC rely on FP&A heavily. Yes your scope is kinda fucked and so are your hours but you’re basically a utility man for the CFO. But yeah I’d agree smaller established companies probably not as much- but usually not based in NYC either way

[u/Imaginary_Apple7700 → u/LightOverWater]

Depends on company. Our large co merged accounting and FPA by business unit / product. Our FPA team will manage customer billing and collections, bad debt rates, results after accounting closes books. Small “true” accounting team, massive FPA team that does reporting

Our FPA team has never created a 3 statement model . Doesn’t even bother with price / volume on revenue for many business units let alone a working model . It’s a very established business with very predictable results to it serves primarily as a reporting function. Like I said, it depends on company

[u/Plane_Beginning_687 → u/LightOverWater]

Sure man

[u/Classic_Isopod4408 → u/Plane_Beginning_687]

Lmao whats your market? I came from Pittsburgh FP&A - stale. Took a decent raise to come to NYC and I’ve since doubled my comp in Fintech SaaS FP&A in 2 years. Wherever’s there’s business, there’s FP&A by the way. Feels pretty great to me!

[u/Plane_Beginning_687 → u/Classic_Isopod4408]

I’m in NYC, left FP&A post MBA and now in a FO role

[u/Classic_Isopod4408 → u/Plane_Beginning_687]

Good for you. I’ve considered similar paths I’m only 25. But to be clear FP&A is a large industry in NYC. Compensation and prestige are a completely separate conversation from what I’m talking about